London landlord to “selectively invest” in Covid-ridden retail tenants

623
Grosvenor Estate covid-19 landlord
Grosvenor owns property in some of the capital's most affluent postcodes, including in Belgravia and Mayfair
// Grosvenor Estate is in talks to take a stake in Roland Mouret
// The brand designs clothing for celebrity figures such as actress Scarlett Johansson and the Duchess of Sussex
// Grosvenor is one of Britain’s wealthiest landowners and owns property in Belgravia and Mayfair

A high-profile London landlord is reportedly seeking to “selectively invest” in retail tenants to help them recover from the effects of the pandemic.

West End commercial landlord Grosvenor Estate is in talks to take a stake in Roland Mouret, the British-based fashion designer, in an effort to boost the struggling tenants in the capital, Sky News reported.

Grosvenor Estate is discussing a deal that would see it become a minority investor in the fashion label, which designs clothing for celebrity figures such as actress Scarlett Johansson and the Duchess of Sussex.


READ MORE: Sadiq Khan: Tourist spending to fall £10bn in London this year


Roland Mouret is a 50-50 joint venture between Mouret and XIX Entertainment, the media and artist management group founded by Simon Fuller.

Grosvenor was confirming a new pool of capital on Wednesday, which it is calling its Tenant Support Fund, with aims to acquire equity stakes in a small number of its tenants’ businesses.

However, the deal with Roland Mouret has yet to be confirmed but could be sealed in the coming weeks.

Grosvenor is one of Britain’s wealthiest landowners and owns property in Belgravia and Mayfair.

Roland Mouret’s London outlet is on Carlos Place, close to the Connaught Hotel.

The fashion designer is expected to show a return to profit for 2019 when it files its accounts.

Roland Mouret engaged advisers to help secure additional financing, although this has been superseded by its talks with Grosvenor.

Click here to sign up to Retail Gazette‘s free daily email newsletter

LEAVE A REPLY

Please enter your comment!
Please enter your name here